Warren Buffett went on the record Friday to deny social media posts after President Donald Trump shared on Truth Social a fan video that claimed the president is tanking the stock market on purpose with the endorsement of the legendary investor.<\/p>\n
Trump on Friday shared an outlandish social media video that defends his recent policy decisions by arguing he is deliberately taking down the market as a strategic play to force lower interest and mortgage rates.<\/p>\n
\u201cTrump is crashing the stock market by 20% this month, but he\u2019s doing it on purpose,\u201d alleged the video, which Trump posted on his Truth Social account.<\/p>\n
The video\u2019s narrator then falsely states, \u201cAnd this is why Warren Buffett just said, \u2018Trump is making the best economic moves he\u2019s seen in over 50 years.\u2019\u201d<\/p>\n
The president shared a link to an X post from the account @AmericaPapaBear, a self-described \u201cTrumper to the end.\u201d The X post itself appears to be a repost of a weeks-old TikTok video from user @wnnsa11. The video has been shared more than 2,000 times on Truth Social and nearly 10,000 times on X.<\/p>\n
Buffett, 94, didn\u2019t single out any specific posts, but his conglomerate Berkshire Hathaway outright rejected all comments claimed to be made by him.<\/p>\n
\u201cThere are reports currently circulating on social media (including Twitter, Facebook and Tik Tok) regarding comments allegedly made by Warren E. Buffett. All such reports are false,\u201d the company said in a statement Friday.<\/p>\n
CNBC\u2019s Becky Quick spoke to Buffett Friday about this statement and he said he wanted to knock down misinformation in an age where false rumors can be blasted around instantaneously. Buffett told Quick that he won\u2019t make any commentary related to the markets, the economy or tariffs between now and Berkshire\u2019s annual meeting on May 3.<\/p>\n
While Buffett hasn\u2019t spoken about this week\u2019s imposition of sweeping tariffs from the Trump administration, his view on such things has pretty much always been negative. Just in March, the Berkshire CEO and chairman called tariffs \u201can act of war, to some degree.\u201d<\/p>\n
\u201cOver time, they are a tax on goods. I mean, the tooth fairy doesn\u2019t pay \u2019em!\u201d Buffett said in the news interview with a laugh. \u201cAnd then what? You always have to ask that question in economics. You always say, \u2018And then what?\u2019\u201d<\/p>\n
During Trump\u2019s first term, Buffett opined at length in 2018 and 2019 about the trade conflicts that erupted, warning that the Republican\u2019s aggressive moves could cause negative consequences globally.<\/p>\n
\u201cIf we actually have a trade war, it will be bad for the whole world \u2026 everything intersects in the world,\u201d Buffett said in a CNBC interview in 2019. \u201cA world that adjusts to something very close to free trade \u2026 more people will live better than in a world with significant tariffs and shifting tariffs over time.\u201d<\/p>\n
Buffett has been in a defensive mode over the past year as he rapidly dumped stocks and raised a record amount of cash exceeding $300 billion. His conglomerate has a big U.S. focus and has large businesses in insurance, railroads, manufacturing, energy and retail.<\/p>\n<\/p>\n
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Warren Buffett went on the record Friday to deny social media posts after President Donald Trump shared on Truth Social a fan<\/p>\n